New Oriental Education And Technology Swings To Profit In Q2 - Quick Facts

(RTTNews) - New Oriental Education and Technology Group Inc. (EDU), a provider of private educational services mainly in China, posted second-quarter net income attributable to the company of $4.3 million, or $0.03 per ADS, versus a loss of $15.8 million, or $0.10 per ADS, last year. On a non-GAAP basis, net income attributable to New Oriental, excluding share-based compensation expenses, totaled $9.7 million, or $0.06 per ADS for the recent quarter.

On average, 5 analysts polled by Thomson Reuters expected loss per share of $0.02 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly total net revenues went up 25.6% year-over-year to $208.33 million, from $165.91 million in the prior-year period, whereas six analysts estimated revenues of $207.56 million.

For the third quarter of fiscal year 2014, the company expects total net revenues to be in the range of $260.0 million - $270.9 million, representing year-on-year growth of 19% - 24%. This outlook reflects New Oriental's current and preliminary view, subject to change. Five analysts project third-quarter revenue of $267.53 million.